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Authorize the Manager to Execute the Wave Two Settlement Agreement Related to the National Opioid Litigation.
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Staff:
Department:
Christopher C. Blue, Interim Town Manager
Town Manager's Office
Ann Anderson, Town Attorney
Town Attorney's Office
Overview: The State of North Carolina continues to participate in the fight to address the opioid epidemic. Recently a $21 billion Wave Two Settlement was negotiated with CVS Health Corporation, CVS Pharmacy, Inc., Walgreens Co., Walmart, Inc., Allergan Finance, LLC, Allergan Limited, and Teva Pharmaceuticals Industries, Ltd. North Carolina state and local governments could receive more than $600 million from this settlement.
Recommendation(s):
That the Council adopt the resolution authorizing the Town Manager to execute a Wave Two Settlement Agreement.
Background
* In 20211 the Council approved a Memorandum of Agreement between Orange County and the State of North Carolina regarding the disbursement of settlement funds related to the National Opioid Litigation.
* 100% of local governments participated in the Wave One Settlement that resulted in the state receiving more than $750 million.
* North Carolina could receive more than $600 million from Wave Two.
* $6.8 million was appropriated to Orange County for opioid remediation activities for Wave One, and the total Wave Two amount could be $5.4 million. Funds will be paid incrementally over 18 years.
* To date, the County has received approximately $880,000 from the Wave One allocation. An Opioid Advisory Committee has been appointed to make recommendations on how to spend the funds. The Town has a representative from the Police Department on the Advisory Committee.
Key Issues
* To receive its share, the Settlement requires all North Carolina local governments of over 30,000 to sign on to the settlement agreement.
* The deadline to sign onto the Wave Two Settlement is April 18, 2023.
Fiscal Impact/Resources: Though the Town is not receiving dire...
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